Trading Summary (January 20, 2004)

Canada’s junior exchange rallied with bullion as advancing stocks beat declining stocks 512 to 435. The S&P-TSX Venture Exchange composite index gained 19.86 points, or 1.12% and closed at 1,795.26 with 100 million shares traded.

Jaguar Resources closed at 44.5, up 4 with 1.94 million shares traded. In December the company acquired the 100 sq. km Mamoal alluvial gold property in the Tapajos mineral district of northern Brazil. Jaguar has an option to earn 100% of this property by paying the owner $US300,000 over three and a half years.

Cantex Mine Development lost 1.5 and closed at 8.5 with 1.41 million shares traded. The junior holds an exclusive Exploration License covering 1,063 square km in the northwest part of the Republic of Yemen. The company also has a second project is in Nevada, where Cantex has a 51% interest in 10 gold exploration targets secured with 187 claims. Its third project is a 6,043 sq. km license in western Greenland where its interest at the end of the reporting period was 10.16%.

Spider Resources closed the day down half a penny to 15 with 1.2 million shares traded. The junior holds a stake in the McFauld’s Lake property in the James Bay Lowlands of northeastern Ontario. Diagem International Resource bought KWG Resources’ 8% stake in property by agreeing to spend $2 million on exploration. Drilling on the project resumed last July to follow up on encouraging sulphide mineralization originally cut by De Beers in 2002. The diamond explorer inadvertently hit base metal mineralization while drill-testing 13 diamond targets at the Spider 3 project.

China Diamond found half a penny and closed at 37 with 1.09 million shares traded. The company, which changed its name from Pan Asia Mining, has a controlling interest in a Sino-Foreign joint venture company in the Shandong Province in the People’s Republic of China. The Joint Venture Company owns and operates the 701 Changma Diamond Mine.